Coinbase is considering moving outside the United States as a result of lack of regulatory clarity

Coinbase is considering moving outside the United States as a result of lack of regulatory clarity

During a recent conference, the CEO of one of the world’s largest cryptocurrency exchanges pointed out weaknesses in the US regulatory framework for the crypto sector. In doing so, he admitted that if the situation does not improve, both the exchange and many blockchain projects will leave US jurisdiction. 

The United States is in trouble with cryptocurrencies

Coinbase, a leading cryptocurrency exchange based in the United States, is considering leaving the country if clear regulations are not put in place. For this reason, speaking at Fintech Week in London, Coinbase CEO Brian Armstrong said that “anything is possible, including moving headquarters if necessary.” This was in response to former UK Chancellor George Osbourne, who seems to recognize the serious problems the exchange is facing, in its home space.

Armstrong, who is currently involved in a potential lawsuit with the Securities and Exchange Commission (SEC), says the US has the potential to be a key market for cryptocurrencies, but the current regulatory environment is too uncertain. In his words:

“If we don’t see clear regulation in the U.S. within a few years, we will have to consider investing more elsewhere in the world.”

U.K. offers more opportunities to develop cryptocurrency market

Armstrong also commented on the benefits of a clearer regulatory framework in the UK, where the Financial Conduct Authority (FCA), the sole authority, oversees both securities and commodities. This is in contrast to the United States, where the Commodity Futures Trading Commission (CFTC) and the SEC compete.

Armstrong also noted that both the heads of the CFTC and the SEC often present conflicting positions, underscoring the need for clear regulations. In light of these comments, a clearer regulatory framework in the UK appears to be an attractive option for companies in the industry.

The CEO of Coinbase stressed that balanced regulations are the key to stabilizing the cryptocurrency market and ensuring the safety of investors.

SEC battle against crypto continues

The SEC recently indicted Seattle-based exchange Bittrex and its co-founder William Shihara for operating as an unregistered securities platform and intentionally evading regulation. Previously, Coinbase was notified by Wells of potential securities violations, which usually precedes enforcement.

In February, Kraken had to pay $30 million under a settlement reached with the SEC and stop providing staking services to US customers.

Disclaimer: Blockbulletin does not take accountability of investments based on the information of the website. We highly advice readers to make extensive research prior to any invest

Share this article

More news


XRP outperforms Bitcoin and Ethereum

In the past week, XRP decisively outperformed its main rivals, Bitcoin (BTC) and Ethereum (ETH), in terms of capital flows. Moreover, it recorded an impressive $2.7 million…

Solana and Avalanche on the eye of investment funds

Two alternative coins, Solana (SOL) and Avalanche (AVAX), are gaining increasing interest and are successively attracting the attention of investment funds. Although bitcoin (BTC) remains the main…
All articles loaded
No more articles to load


Cryptocurrency wallets

Cryptocurrency wallets

We talked about security when trading crypto assets in an article titled “Online security“. We also mentioned how important it…
hardware wallets

Cryptocurrency hardware wallets

From the article titled “Cryptocurrency wallets” you learned about the different types of wallets. They were briefly characterized there. Let’s…
Where to buy cryptocurrency brokers

Which cryptocurrency Brokers to use

In the article “Where to Buy Cryptocurrencies (Exchanges)“, we introduced you to which exchange platforms you can purchase cryptocurrencies on.…
Trading cryptocurrencies

Trading cryptocurrency

In the cryptocurrency market, you face many opportunities to invest in cryptocurrency or buy or sell cryptocurrency. If you want…
All articles loaded
No more articles to load


All articles loaded
No more articles to load

Latest news

All articles loaded
No more articles to load